Starting your own business is an exciting time. But before you start, save yourself some time and money by being aware of what’s involved in running a business. Operating a small business is not just about working for yourself or working from home, it is also about having the necessary management skills, industry expertise, technical skills, finance, and of course a long-term vision to grow and succeed. Do yourself a favour and set some time aside to do a little research about business – it’s key to turning your dreams into reality.
Here are our Top 5 books to help you get ahead of your competition.
The Power of Broke by Daymond John
Daymond John has been practicing the power of broke ever since he started selling his home-sewn t-shirts on the streets of Queens. With no funding and a $40 budget, Daymond had to come up with out-of-the box ways to promote his products. Luckily, desperation breeds innovation, and so he hatched an idea for a creative campaign that eventually launched the FUBU brand into a $6 billion dollar global phenomenon. But it might not have happened if he hadn’t started out broke with nothing but a heart full of hope and a ferocious drive to succeed by any means possible.
In this book, this Shark Tank star shows that broke can actually be your greatest competitive advantage as an entrepreneur. Why? Because starting a business from broke forces you to think more creatively. It forces you to use your resources more efficiently. It forces you to connect with your customers more authentically, and market your ideas more imaginatively. It forces you to be true to yourself, stay laser focused on your goals, and come up with those innovative solutions required to make a meaningful mark.
The Subtle Art of Not Giving a F*ck by Mark Manson
In his wildly popular Internet blog, Manson doesn’t sugarcoat or equivocate. He tells it like it is a dose of raw, refreshing, honest truth that is sorely lacking today. The Subtle Art of Not Giving a F**k is his antidote to the coddling, let’s-all-feel-good mindset that has infected modern society and spoiled a generation, rewarding them with gold medals just for showing up. Manson makes the argument, backed both by academic research that improving our lives hinges not on our ability to turn lemons into lemonade, but on learning to stomach lemons better. Human beings are flawed and limited “not everybody can be extraordinary, there are winners and losers in society, and some of it is not fair or your fault.” Manson advises us to get to know our limitations and accept them. Once we embrace our fears, faults, and uncertainties, once we stop running and avoiding and start confronting painful truths, we can begin to find the courage, perseverance, honesty, responsibility, curiosity, and forgiveness we seek. There are only so many things we can give a f**k about so we need to figure out which ones really matter. The Subtle Art of Not Giving a F**k is a refreshing slap for a generation to help them lead contented, grounded lives.
The Founder’s Dilemmas by Noam Wasserman
Often downplayed in the excitement of starting up a new business venture is one of the most important decisions entrepreneurs will face: should they go it alone, or bring in cofounders, hires, and investors to help build the business? More than just financial rewards are at stake. Friendships and relationships can suffer. Bad decisions at the inception of a promising venture lay the foundations for its eventual ruin. The Founder’s Dilemmas is the first book to examine the early decisions by entrepreneurs that can make or break a startup and its team.
Drawing on a decade of research, Noam Wasserman reveals the common pitfalls founders face and how to avoid them. He looks at whether it is a good idea to cofound with friends or relatives, how and when to split the equity within the founding team, and how to recognize when a successful founder-CEO should exit or be fired. Wasserman explains how to anticipate, avoid, or recover from disastrous mistakes that can splinter a founding team, strip founders of control, and leave founders without a financial payoff for their hard work and innovative ideas. He highlights the need at each step to strike a careful balance between controlling the startup and attracting the best resources to grow it, and demonstrates why the easy short-term choice is often the most perilous in the long term.
The $100 Startup by Chris Guillebeau
As it turns out, you don’t have to be a trust-fund baby, on the hook for a business loan, or just plain old lucky to start your very own enterprise. Guillebeau gives rousing examples of somewhat accidental entrepreneurs making success out of strife, opportunity, and circumstances mostly by turning a passion or hobby into something that can be profitable. He doesn’t necessarily encourage every knitter to open a craft store, but he does promote creative thinking about how you can leverage a natural talent or long-loved activity into a business model.
Get Your Sh*t Together by Sarah Knight
From the author who brought you the bestselling book everyone is talking about, The Life-Changing Magic of Not Giving a F*ck: the no-fks-given, no-holds-barred guide to living your best life. Ever find yourself snowed under at the office or even just glued to the sofa when you really want to get out (for once), get to the gym (at last), and get started on that daunting dream project you’re always putting off? Then it’s time to get your sh*t together. In The Life-Changing Magic of Not Giving a F*ck, ‘anti-guru’ Sarah Knight introduced the joys of mental decluttering. Get Your Sh*t Together takes you one stop further – organising the f*cks you want and need to give to help you quit your day job and move abroad, balance work and fun – and save money while you’re at it – or simply get out of the door for happy hour, every day.
If you fancy a little more research before you take the plunge, check out more titles on our Pinterest board for Entrepreneurs.